Have your own casino. - page 6. | Bitcointalksearch.org

Silberman

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Quote from: Nwada001 on November 09, 2023, 07:21:37 PM

Quote from: seoincorporation on November 04, 2023, 07:39:15 PM

How many of you have dreamed about having your casino? Be the house and play the always-win game.

This is part of the business that I have always considered having, but the challenges of setting them up always make me look at myself as just a dreamer. I start with the fact that I need to have enough money in order to even start dreaming about owning a casino, followed by the fact that I don't have much of the developing skills required to set up a game house as I can't entirely depend on others games and codes to manage my own business. Another thing is the licence and the condition of the business in my country.

Taking the above-listed challenges aside, I forever want to own my own casino. The profits are encouraging, and I always like seeing people come together to have fun, which is also one of the reasons why I desire to own a casino. But since for now I can't afford to own one, I also have a backup plan of being a sponsor and investor/shareholder in a casino company someday, which I will just have to invest my money in, and others will be in charge if the company will generate income for me on a daily basis.

On the surface it may seem fun to own a casino, but when you think about it a little bit more then it is easy to realize how much work it would be, since you will have to develop the website from the ground up as paying someone else to do it for you may allow that person to put backdoors you are not aware about, and this is easier said than done as if you do not do it well then hackers will be able to steal from you and your clients, then we need to add getting the licenses, hiring employees for all the positions needed at the casino and finally you need a huge amount of money as your capital, so it is easy to see that for the majority of those that dream on having their own casino such a dream will probably never materialize.

Bitcoin_people

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Although I currently do not own a casino and have no plans to create a casino site in the future. Although if a few people do such a plan I can think of building a good casino platform in the future but not now. I guess in 2018 to 2019 a lot of people built casinos at that time it was crowded. And there are people who build such casinos and now they have created a very trusted platform that many people now play there. All the casino platforms that exist today are very good and trustworthy, it takes a lot of time to build a trusted casino like this. Although building such a casino is very difficult and involves a lot of money, so this dream can be in one's future if it is built with a few partnerships. Organizing a casino platform is very difficult and requires a lot of money in the bankroll which is not an easy task to build on your own. That's why no one is currently able to build such a casino platform because of the large amount of money rather they are not dreaming of such a thing. All the casinos that exist today are so far ahead that the financial position is so good and people benefit so much from playing there that they don't think about creating their own casino platform for the future.

Hirose UK

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Quote from: sunsilk on November 07, 2023, 10:04:12 AM

Quote from: Hirose UK on November 06, 2023, 11:54:12 PM

Quote from: sunsilk on November 06, 2023, 05:35:53 PM

~snip~

That is what I am trying to avoid, the failure to pay the customers when I know in the first place that this shouldn't be the case as a business owner that's engaged in the gambling industry. I know what it feels to be as a customer in that position so if I am aware that I don't have the capacity.

Then, I better leave that to those that are able and that's also one reason why I just want to be at the lower tier of the company or organization because that seems to be a tough burden for someone who owns the casino or on a higher level in the office.

I can't do it on my own unlike those that managed to start on their own. However, I think that most of the successful casinos today weren't just built by one single person.

Yes, if we build casino business we as owners have to have great sense of responsibility and always provide whatever is rightfully though it really drains the bankroll in the casino you own.
Many cases like this occur because casino owners don't want to lose large amounts of money but they don't think long term because after failing to pay customers winnings the casino business they own will be destroyed, gamblers trust in the casino will be lost.

It is clear that heavy burden will be felt by a businessman who owns casino because they have to be able to do many things to develop and make this business even bigger, plus they have to bear their own losses if bad things happen and even still pay the team even though there is no income yet.
This is a business of course there are many risks in it, but if you succeed then you will be one of the successful people.

From here I know why you only have desires but prefer to be part of this business because there is not too much risk and you can consistently get income because you are working, not building your own business.

paxmao

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Quote from: Blitzboy on November 09, 2023, 11:12:30 AM

Quote from: LUCKMCFLY on November 08, 2023, 09:15:16 PM

I think that having your own casino would be a Spectacular Business , but I think that I wouldn't mess with having a business like that if I didn't have the necessary capital for them, because we must remember that things when it comes to how Players who are Whales play , They will Want to enter by making big bets, and if we do not have the capacity to pay in case they win, then we will look very bad and it will be something disastrous, then we can have the best structure to do it, the best of all the friends once it is see nice, eye-catching , the best games with their suppliers, the best staff, but the question here is money, if there is not enough how can you maintain a casino? Taking into consideration that if players like those who enter stake.com arrive who are very good , they are whales , because it is Something that is quite strong , then we can say that when things are treated like this, it is very different.

Now for me that is the main way that I don't set up a casino, secondly I don't know or have any idea how much the minimum capital is that you can set up a casino, I think it would have to be a lot of bitcoins, it's the only way I can say that things worked really well, because if you start playing slot machines, which are quite nice and there is a bet of 700-1000usd and you win the biggest prize, the money is an exorbitant amount that must be paid, and You must pay so as not to look bad, because otherwise it would be a scam, and so in the forum there have been many cases where the casino cannot pay and then they try to get ahead with the payments that some players make with their deposits, that is, the casino tries to capitalize with the players' money , that is something that is not viable and is a very reckless strategy, because basically money is something that the casino is always protecting at all times, it is its way of surviving, I don't see any other way .

Capital is essential to your business's success. Whales are the huge fish every casino wants, but they're also risky because they have a lot of money and gamble a lot. So the house needs to have enough money saved up in case they win big. The balance of spending and return is tough.

The staff and decorations are great, but without money, its a paper house. Yes, using player money as a stopgap is like entering financial muck. Its reckless and can harm your reputation. Opening a casino is enticing, but the money is too much to pass up.

Unbelievable quantities of money are needed. The risks are great physically and symbolically. Not only do you need to have enough money to cover the bets, but you also need to pay for things like rent, software, and more. You need cash to create a wall to defend your business in a high-risk market where "whales" play.

It is quite difficult to create anything from scratch but in my view is even more difficult to enter a market where there are already quite a few incumbents that are well positioned and have a client base that they care for and grow by investing. If you are going to create a new casino, you better have a very good idea on how you intend to disrupt a very stable market - hint, get money ready.

Nwada001

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Quote from: seoincorporation on November 04, 2023, 07:39:15 PM

How many of you have dreamed about having your casino? Be the house and play the always-win game.

This is part of the business that I have always considered having, but the challenges of setting them up always make me look at myself as just a dreamer. I start with the fact that I need to have enough money in order to even start dreaming about owning a casino, followed by the fact that I don't have much of the developing skills required to set up a game house as I can't entirely depend on others games and codes to manage my own business. Another thing is the licence and the condition of the business in my country.

Taking the above-listed challenges aside, I forever want to own my own casino. The profits are encouraging, and I always like seeing people come together to have fun, which is also one of the reasons why I desire to own a casino. But since for now I can't afford to own one, I also have a backup plan of being a sponsor and investor/shareholder in a casino company someday, which I will just have to invest my money in, and others will be in charge if the company will generate income for me on a daily basis.

BitDane

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Someone on the internet stated that anyone who really wanted to create a casino needs a fund raging from $50k to more than $20m. I am no where to have this amount so I just ignore my dream of setting up a casino.

If in case someone has this account and still dream to establish his own casino then I believe reading this article may help you.

It is said that online casino is way cheaper than the land based casino in terms of establishing the operation since there is no need to buy lands and physical machines. What good in online casino is that one can crowdfund his plan which is easier to do in an online community.

Dunamisx

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Even this casinos make use of a cold storage to have their money stored because they are not that daft to make use of another centralized exchange to keep people's money including theirs, they make use of the money we are gambling with to secure their own seat as well as in maintaining the casinos because they are also playing the bet on our behalf, there's a certain particular rate or amount they stand to get from what we bet and if won, so at the end, both the gambler and the gambling platforms are all taking the risk together.

Oilacris

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Quote from: Wiwo on November 09, 2023, 02:04:26 PM

Quote from: Gozie51 on November 09, 2023, 01:46:41 PM

Obviously with the rate of new casinos opening up and announcing their start up here, you would be convinced that it is more lucrative than you will be losing. Despite those winning big, the casino still profit because most likely before you win big you must have played and lost severally and only God knows how much. Therefore, winning big for a gambler might be losing big by another gambler and whichever way you look at it the casino is still in profit. Like even when a casino is hacked and a huge sum is stolen they are still in business like what happened to Stake.

So whatever way we want to look at the expense of running casinos including payment of staff, it will still be profitable to own a casino with the rate of new casinos coming up at least on the platform.

The gambling industry have witnessed a lot of inflow of new casinos popping up at some point and it may make it look as if the business is the most lucrative at this point but not knowing that, running a casino has it many under laying negative impact that if the owner is not careful it can lead him to high loses and operational glitches that could result into heavy loses for the casino.

So to avoid that, one needs to always have a long-term experience before considering ever venturing into the business, so to say casino operations are not as easy as many take it to be.

Number of casinos and the current newly launched ones would really be telling you that this is a business which it would really be that a profitable one but of course running one wont really be automatically put you up into the situation that considered to be that successful knowing that there's no such thing about assurance in any business no matter how good or profitable it would be.
You should always consider about the other factors on which it would really be affecting your success rate. Come in mind that competition gets high and there's no way that you could
really be able to take advantage or go ahead against with those old and reputable ones. Getting your first costumer would really be the toughest thing of all.
If you wont really be making yourself that mindful about it then for sure it would really be that so hard to succeed into this kind of market.

Wiwo

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Quote from: Gozie51 on November 09, 2023, 01:46:41 PM

Obviously with the rate of new casinos opening up and announcing their start up here, you would be convinced that it is more lucrative than you will be losing. Despite those winning big, the casino still profit because most likely before you win big you must have played and lost severally and only God knows how much. Therefore, winning big for a gambler might be losing big by another gambler and whichever way you look at it the casino is still in profit. Like even when a casino is hacked and a huge sum is stolen they are still in business like what happened to Stake.

So whatever way we want to look at the expense of running casinos including payment of staff, it will still be profitable to own a casino with the rate of new casinos coming up at least on the platform.

The gambling industry have witnessed a lot of inflow of new casinos popping up at some point and it may make it look as if the business is the most lucrative at this point but not knowing that, running a casino has it many under laying negative impact that if the owner is not careful it can lead him to high loses and operational glitches that could result into heavy loses for the casino.

So to avoid that, one needs to always have a long-term experience before considering ever venturing into the business, so to say casino operations are not as easy as many take it to be.

Gozie51

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Quote from: TheUltraElite on November 09, 2023, 12:40:29 PM

Quote from: Blitzboy on November 09, 2023, 11:12:30 AM

Unbelievable quantities of money are needed. The risks are great physically and symbolically. Not only do you need to have enough money to cover the bets, but you also need to pay for things like rent, software, and more. You need cash to create a wall to defend your business in a high-risk market where "whales" play.

Risks are there in every aspect of life. But yes you need backup wallets to cover your money if a high roller is wise enough to win big and then withdraw it. Most of them just bet again and lose it all. The advantage of owning a casino is that you know the players are going to come back and try to win more and that greed squashes the life out of them instead of giving them more.

So in the long run, the casino is winning. You just have to sustain that short period of losses which can be frustrating at first.

Obviously with the rate of new casinos opening up and announcing their start up here, you would be convinced that it is more lucrative than you will be losing. Despite those winning big, the casino still profit because most likely before you win big you must have played and lost severally and only God knows how much. Therefore, winning big for a gambler might be losing big by another gambler and whichever way you look at it the casino is still in profit. Like even when a casino is hacked and huge sum stolen they are still in business like what happened to stake.

So whatever way we want to look at the expense on running casinos including payment of staff, it will still be profitable to own a casino with the rate of new casinos coming up at least on the platform.

mak013

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Quote from: Wiwo on November 08, 2023, 10:03:59 AM

Quote from: mak013 on November 07, 2023, 02:48:33 AM

As for me it only looks like easy money. To be the owner of the casino is the same job like the others. You have to pay taxes, pay prizes, work hard trying to increase the reputation of the casino, invite new gamblers, etc.
As the result you get some money and have to pay salary, bills, etc. And only after all these payments you get your money. And i don`t sure that it would be a big enough sum.

All that you mentioned above is correct and most especially in the area where you started the need for time and hard work to keep the casino running and being able to attract gamblers and also being able to pay for a prize no matter how much is involved in the winning, this is very important for start-up casino since the business is not as easy to run as people take it to be, because when you mentioned operating a casino, some people will just assume you making easy money without any efforts, we're as there have been proven cases of where the team will go on for days without break or off from duty, that is the reason that casino operations are most suitable someone who already have the technical knowledge and long term experience of the industry to be able to run it effectively.

But talking about the revenue and profits merging for this business, then I will say that, you may be wrong in the last paragraph of the text where you said that the team may not have money left after paying bills that is not true and at some point may be a false alarm because a lot of the casinos that have put the right mechanism I place are making enough profits even after all expenses for the period have been settled.

It is possible of course. And we have some examples of such kind of the casino. But when we create new casino we must not only attract new gamblers. We have to get gamblers from other casino and it is difficult. They have some bonuses, they now how to gamble there. As for me, i`d prefer the old casino where i know everything.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Blitzboy on November 09, 2023, 11:12:30 AM

Unbelievable quantities of money are needed. The risks are great physically and symbolically. Not only do you need to have enough money to cover the bets, but you also need to pay for things like rent, software, and more. You need cash to create a wall to defend your business in a high-risk market where "whales" play.

Risks are there in every aspect of life. But yes you need backup wallets to cover your money if a high roller is wise enough to win big and then withdraw it. Most of them just bet again and lose it all. The advantage of owning a casino is that you know the players are going to come back and try to win more and that greed squashes the life out of them instead of giving them more.

So in the long run, the casino is winning. You just have to sustain that short period of losses which can be frustrating at first.

pawanjain

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Quote from: Fatunad on November 08, 2023, 02:13:17 PM

Quote from: pawanjain on November 08, 2023, 12:31:08 PM

Quote from: seoincorporation on November 04, 2023, 07:39:15 PM

How many of you have dreamed about having your casino? Be the house and play the always-win game.

In the past years it was different, people who could build a provably fair engine were able to have their own casino, but now we are playing with new rules, the casinos must have a license and games providers, and that's what people are looking for, and i don't say is something bad, the gambling experience on stake compared with the gambling experience on satoshi bones is enormous.

But getting back into the topic, i would like to read some nice histories from the community, those who only dream about their own casino, and those who make their dreams come true.

I still do wish to have my own casino but at no point I thought of playing the games and always win.
That wouldn't be fun and there's no point if I am winning my own money.
I wished of having a casino and organize live betting games or something similar.
But it seems it involves a lot of regulatory issues.

If you are a gambler then you would definitely be having that kind of interest on running a gambling business but pretty sure it wont really be that so something simple yet there would really be
some considerations which needs to be checked or would really be handled out and not really just that sitting right away and just waiting for some revenue. This business doesnt work on that way.
Yes, we are the house and having that full control but retaining players on the site is never been that easy. It might really sounds too basic on running a business but its not.
There would be tons of consideration which you would really be needing to set and everything should really be in order for it to function well and something that it is really that reaping some revenue.
Who doesnt really want on having a business on which we know that it is extremely that profitable? We are all wishing on having a business and even to those people who dont have
gambling knowledge that much but still they would really be considering on having this.

Yes ofcourse. There are a lot of things required to run a successful business.
I know this because all of my friends are running a business and they keep telling me how troublesome it is.
Yet running an online casino is one of my wishlist and I'll try pursuing it at some point of time if things are aligned.

Blitzboy

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Quote from: LUCKMCFLY on November 08, 2023, 09:15:16 PM

I think that having your own casino would be a Spectacular Business , but I think that I wouldn't mess with having a business like that if I didn't have the necessary capital for them, because we must remember that things when it comes to how Players who are Whales play , They will Want to enter by making big bets, and if we do not have the capacity to pay in case they win, then we will look very bad and it will be something disastrous, then we can have the best structure to do it, the best of all the friends once it is see nice, eye-catching , the best games with their suppliers, the best staff, but the question here is money, if there is not enough how can you maintain a casino? Taking into consideration that if players like those who enter stake.com arrive who are very good , they are whales , because it is Something that is quite strong , then we can say that when things are treated like this, it is very different.

Now for me that is the main way that I don't set up a casino, secondly I don't know or have any idea how much the minimum capital is that you can set up a casino, I think it would have to be a lot of bitcoins, it's the only way I can say that things worked really well, because if you start playing slot machines, which are quite nice and there is a bet of 700-1000usd and you win the biggest prize, the money is an exorbitant amount that must be paid, and You must pay so as not to look bad, because otherwise it would be a scam, and so in the forum there have been many cases where the casino cannot pay and then they try to get ahead with the payments that some players make with their deposits, that is, the casino tries to capitalize with the players' money , that is something that is not viable and is a very reckless strategy, because basically money is something that the casino is always protecting at all times, it is its way of surviving, I don't see any other way .

Capital is essential to your business's success. Whales are the huge fish every casino wants, but they're also risky because they have a lot of money and gamble a lot. So the house needs to have enough money saved up in case they win big. The balance of spending and return is tough.

The staff and decorations are great, but without money, its a paper house. Yes, using player money as a stopgap is like entering financial muck. Its reckless and can harm your reputation. Opening a casino is enticing, but the money is too much to pass up.

Unbelievable quantities of money are needed. The risks are great physically and symbolically. Not only do you need to have enough money to cover the bets, but you also need to pay for things like rent, software, and more. You need cash to create a wall to defend your business in a high-risk market where "whales" play.

leonair

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Quote from: Kelvinid on November 08, 2023, 10:33:02 AM

The casino business is not far different from other forms of business as they all need money as capital - and yes, that is really a huge amount of money. That is why not all have been given the chance to start and own a casino (including me). That is why I don't even think about it, I'd rather choose as a gambler because that is the only thing that I can afford. Perhaps, it was not necessary to own a casino in order to enjoy gambling or let us say, it means of success as I'd never see myself empty even if I don't have it.

Not just money.Managing a casino site requires innovative strategies that can make your casino different and attractive from other casinos. You cannot own a successful casino site if you only have money. And that's why anyone can't own a site. But everyone can have a dream to own a casino site because it is possible to earn huge amount of money from here, on the other hand, you can gamble as much as you want on your own site and if you lose money, it will be deposited in your own fund, it is a different kind of fun.

redsun114

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Quote from: SamReomo on November 08, 2023, 09:37:06 PM

I never dreamed about having my own casino but if I can get my own casino then it's always going to be a good thing for me. Now a days, it isn't that hard to have one's own casino but still initial investment is required to have a proper casino which may have some active players.

The worst thing of this time is that the casinos must have some type of license to work and unfortunately I think that's not needed that much. The games are widely available by game providers which a new casino can implement into their platform, but I still believe that the ones who build their own games will have priority over the others.

Your statements, "it isn't that hard to have one's own casino" and "but still initial investment is required" contradict each other, if you think that it's easy for someone to have that much money to start a casino then you should say that it's easy for those who have enough money for it because not everyone can afford to have enough money to build a casino from scratch or even buy one. So, it's not 'easy' to have your own casino business nowadays unless you are ultra-rich.

It's also not only about money, but that's also the initial step that is required only to get it built, one needs experience in the industry to be able to manage it well and make it successful because you can't start a business that you have no experience about and still make it successful since you know nothing about it at all, even if you hire people to do all the work for you, you are still the boss and it's you who will have to make sure everything is working the way they should work because your employees will care only about their job and paycheck and not your business.

Natsuu

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Quote from: electronicash on November 05, 2023, 02:13:44 AM

if you count owning a share to a casino that shares revenue, i guess i own one. Grin

planning to own a casino this 2023 might just be the most ambitous anyone can do but also a good decision while crypto is booming. this will of course be a life changing plan as you will have to be very devoted to promote the casino. promoting a casino seem a tight job that requires a ton of hours every day. the competition of casinos online is very harsh so one decides to own one be dedicated.

Thats great to hear! Well owning a casino does not necessary mean that you have to build it from scratch, having a share on the business would also count you as an owner. I personally prefer that but would love to own shares that will give me control to the company

Reatim

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Quote from: SamReomo on November 08, 2023, 09:37:06 PM

I never dreamed about having my own casino but if I can get my own casino then it's always going to be a good thing for me. Now a days, it isn't that hard to have one's own casino but still initial investment is required to have a proper casino which may have some active players.

it isn't hard to own a casino? or you are telling about to have casino Domain but not operational? because there is a tons of money needed before making it a good one , or maybe those fly by night gambling site ? if that then indeed so easy to own.

Imagine having a winner with huge multiplier ? like needed to withdraw thousand of dollars then how could you provide if there is no big capital on it.

Quote

The worst thing of this time is that the casinos must have some type of license to work and unfortunately I think that's not needed that much. The games are widely available by game providers which a new casino can implement into their platform, but I still believe that the ones who build their own games will have priority over the others.

Gambling online business(legitimate one) is not an easy business to operate this needs full dedication , full knowledge and yes full support financially .

Saisher

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So far I have not seen who started a member here and then created his casino, but we have casino members or representatives joining the forum to promote their casino as an average player here in Bitcointalk I have not known one, or I'm just not aware of one, or maybe the representative is their alt account, but for me creating a casino as the owner has a lot of work, funding and knowledge and your funds and knowledge should be enough for your platform to be competitive, we have seen new casino launched almost daily and some succeed and some just fold up because they cannot keep up with the competition.

Of all the platforms casinos are hard to break through, you must have a big marketing budget and you must have the right people to run the casino but once you make a breakthrough you will have a continuous profit, as long as you keep your reputation intact, reputation is important to operate a casino

SamReomo

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Quote from: Fivestar4everMVP on November 08, 2023, 09:53:58 PM

Quote from: SamReomo on November 08, 2023, 09:37:06 PM

I never dreamed about having my own casino but if I can get my own casino then it's always going to be a good thing for me. Now a days, it isn't that hard to have one's own casino but still initial investment is required to have a proper casino which may have some active players.

The worst thing of this time is that the casinos must have some type of license to work and unfortunately I think that's not needed that much. The games are widely available by game providers which a new casino can implement into their platform, but I still believe that the ones who build their own games will have priority over the others.

You are right though, but let me point out some few things, it isn't that hard to build a casino, but also consider the fact that competition is very high at the moment amongst online gambling casinos, which I think changes everything, for now, it no longer about owning a gambling casino, the question is, how big or popular is it?, how many active players are there on the casino?.

I personally have come across some really good casinos, well structured, beautifully designed and so, but not very many people playing there, which brings me to the issue of marketing, this days, without adequate marketing, some one who owns a casino is as good as the person who does not own one, a person can spend let's say $20,000 to build a world class casino, and would spend hundreds of thousands of dollars on marketing because, marketing is a never ending expenditure for online gambling casino, for the day you stop marketing, you start losing customers gradually.

You're absolutely right! Yeah, it isn't hard anymore to build one's own casino these days but growing it is pretty hard and you're right the competition is tough for new casinos as the old giant casinos have been on the market for quite some time now and they are spending millions on marketing only.

Like you said, I have also see many good casinos that were built very professionally but had way less active players then expected. I believe marketing these days is more important than creation of a casino and for marketing a casino has to spend way more than what was invested during building of the casino.

I believe that even marketing on this forum costs around $500 to $5000 per week depending on the number of participants a casino accepts. The other platform or we can say social media influencers charge way more than 10's or participants in on forum signature campaigns. A casino has to allocate a lot of money for marketing purpose and if there is no marketing then there are no players.

Topic: Have your own casino. - page 6. (Read 1431 times)